Deepanshu Singh is teaching live on Unacademy Plus
2 MCQ's based on 21st November 2016 Current Affairs
ABOUTME . B.Tech. Comp. So. (Htons.) from uPTu Lucknow . NTSE and Debating Champion . Appeared for CSE and Fos mains . Interests: Musio, Quizzing' Fitness Photography RATE REVIEW RECOMMEND Follow me HTTPS://UNACADEMY.IN/USER/INS.DEEPANSHU
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1. Consider the following statements regarding the Benami Transactions(Prohibition) Amendment Act 2016, 1) It creates 4 authorities for conducting investigations regarding such transactions, they are Initiating Officer, Approving Authority Administrator and Adjudicating Authority 2) It seeks to establish an Appellate Tribunal to hear appeals against any orders passed by the Adjudicating Authority 3) It seeks to amend the Benami Transactions Act, 1988. Which of the following is/are correct? a) 1 and 2 b) 2 and3 c) 1 onlu d) 1, 2 and 3
Solution: D Explanation: o The Income Tax department has decided to slap charges under the newly enforced Benami Transactions Act against violators who deposit unaccounted money in others account, It carries a penaltu, prosecution and rigorous ail term of a carries a penalty) prosecution and rigorous jail term of a maximum of seven years. maximum ot seven years
2. Which of the following is correct regarding Islamic Banking ? a) It is the opening up of banks in countries/states that have a majority of muslim population. b) It is a finance system based on the principles of not charging interest, which is prohibited under Islam. c) It is the opening up of Public Sector Bank branches that are run and operated by the muslim population in India. d) They are special Lines in Public Sector Banks in India, that are to be Muslims, it is a novel method to create emploument among used only by Muslims, it is an innovative method to help the people change/deposit their demonitized currency
Solution: B ExpLanation: o The Reserve Bank of India (RBI) has proposed opening of Islamic window in conventional banks for gradual introduction of Sharia-compliant or interest-free banking in the country.
3. Consider the following statements regarding the proposed National Education Policy(2016), 1) The T.S.R. Subramanian committee was entrusted with preparing this neuws education policy for India. 2) The outlay on education should be raised to at least 6% of GDP. 3) The State will endeavour to the creation of an all India Service called Indian Education Service (IES), with Ministry of HRD as the cadre controlling authorit ik ef thetoicg sfare trueh Which of the following is/are true? a) 1 and 2 b) 2 and 3 c) 3 onL d) 1, 2 and 3
Solution: D Explanation: The draft National Education Policy was made public online in June 2016. It has met with roadblocks ever since.
4. Consider the following statements regarding the GST Council, 1) It is constituted under Article 279 A of the constitution. 2) Its members are the Union Finance Minister, the Union Minister of State in charge of Revenue or Finance, and the Minister in charge of Finance or Taxation or any other Minister nominated by each State Government 3) The Goods and Services Tax Council does not recommend the date on which the goods and services tax is to be levied on petroleum products Like petrol, diesel, natural gas etc. Which of the following is/are correct? a) 1 and 2 b) 2 and 3 c) 1 only d) 1, 2 and 3